The Dutch Bank of Spain
has agreed to loan the government of Cameroon FCFA 21 billion for the
transformation of a Yaounde municipal lake which has been an eyesore to
the city dwellers for years.
The accord giving the government of Cameroon the whooping sum was signed in Yaounde Tuesday September 13.
It was Minister Louis Paul Motaze of the Ministry of the Economy,
Planning and Regional Development who signed the agreement on behalf of
the government Cameroon while Antonio Navarro-Escabias did same for the
Dutch Bank of Spain.
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The loan Motaze said at the signing ceremony will be for the first
phase of transformation of the municipal lake. It will equally see the
construction of a five star hotel with a capacity 80 rooms, a restaurant
and commercial space amongst others. Also, part of the money will be
used for the treatment of the water at the municipal lake.
“This is a very important project that will give a face lift to
Yaounde. It is imperative to mention that this project will not only be a
touristic attraction but will give Yaounde a new image,” said
Motaze while exchanging the contract with the representative of the
Dutch bank
He said Cameroon and Dutch bank have had long standing relations that
have seen the financial institution granting Cameroon other loans in
the past for the development of the country.
Since 2011, the Economy minister, pointed out, the Dutch bank has
financed projects in different sectors such as maritime security and
livestock in Cameroon.
Antonio Navarro, the Dutch Bank of Spain representative earlier in an
extemporized presentation said the project to construct facilities
around the Yaounde Municipal Lake will upon completion, “provide the
city of Yaounde with a clear sign of modernization. “This is the third project that the Dutch bank is financing in
Cameroon. We believe that this project will further strengthen ties
between Cameroon and our bank,” Antonio said.
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